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Hot Briquetted Iron (HBI): Introduction

  • Hot briquetted iron (HBI) is a form of direct reduced iron (DRI) with high iron content (>90%), high density greater than 5,000 kilograms per cubic meter, and has compaction temperature greater than 650°C
  • HBI is produced by reducing iron ore with natural gas in the form of briquettes. These briquettes are produced using the fluid bed process under temperature of 700°C and high pressing forces. HBI is used as a supplement scrap for electric furnace steel mills and pig iron.

Key Drivers and Restraints of Global Hot Briquetted Iron (HBI) Market

  • Rise in demand for HBI to overcome issues associated with DRI during shipping and handling is driving the HBI market. Compaction process of HBI is less porous and reactive than DRI; therefore, it does not create self-heating issues. This, in turn, is anticipated to propel the demand for the global HBI market during the forecast period.
  • Most manufacturers of steel across the globe are shifting their modes of production of steel from traditional blast furnace technology to electric furnace process due to increasing environmental pollution. This is expected to propel the demand for HBI during the forecast period.
  • Rise in research & development activities and increase in capacity expansion by key players operating in the market are expected to increase competition among players. This is expected to create lucrative opportunities for the market in the near future.
  • Increase in usage of HBI in blast furnace operations boosts productivity and reduces coke consumption. This is projected to augment the demand for HBI during the forecast period.
  • High production cost and lack of consumer awareness are likely to hamper the global HBI market during the forecast period

Hot Briquetted Iron (HBI): Process Segment

  • Based on process, the HBI market can be segmented into gas and coal
  • The gas segment dominates the global HBI market owing to the easy availability of natural gas in developed regions. The segment is expected to expand at a significant pace during the forecast period.
  • The coal segment is projected to expand at a slower pace due to its adverse environmental impact. No proven carbon capture system exists for blast furnaces; thus, Co2 is emitted in the atmosphere, thus adversely impacting the environment.

Covid-19 Impact on Hot Briquetted Iron (HBI) Market

  • On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 213 countries and territories around the world.
  • Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
  • Decrease in industrial activities due to the pandemic has been adversely impacting the global HBI market

North America Dominates Hot Briquetted Iron (HBI) Market

  • In terms of region, the global HBI market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • North America is a leading consumer of HBI, followed by Asia Pacific. The market in North America is estimated to expand at a rapid pace during the forecast period.
  • Rise in stringent regulations on carbon emission during steel production in the U.S. is encouraging manufacturers to adopt environmentally-friendly technologies. For instance, major steel producers such as Nucor and ArcelorMittal are shifting their production volumes from blast furnace to HBI technology. This is anticipated to propel the global HBI market in the U.S. during the forecast period.
  • Growth in industrialization in countries such as China, India, and Vietnam is expected to propel the demand for HBI for steel making processes in Asia Pacific
  • Revival of the economy in Europe is expected to create lucrative opportunities for HBI manufacturers that operate in the region
  • Latin America and Middle East & Africa are also estimated to create lucrative opportunities for the global HBI market.  These regions are rich in natural gas, which is an essential source for HBI production.

Key Manufacturers Operating in Global Hot Briquetted Iron (HBI) Market

The global HBI market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the global HBI market include:

  • Stena Metal Inc.
  • Voestalpine AG
  • Metalloinvest Mc Llc
  • Comsigua
  • Essar Steel
  • Lion Group
  • JSW Steel
  • Lisco
  • Qatar Steel
  • Metalloinvest

Global Hot Briquetted Iron (HBI) Market: Research Scope

Global Hot Briquetted Iron (HBI) Market, by Process

  • Gas
  • Coal

Global Hot Briquetted Iron (HBI) Market, by Application

  • Electric Arc Furnace (EAF) Steelmaking
  •  Blast Furnace Feedstock
  • Trim Coolant in Basic Oxygen Furnace (BOF) Steelmaking
  • Others

Global Hot Briquetted Iron (HBI) Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

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Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

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4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Hot Briquetted Iron Market